BEIJING: China slapped a company with fines totaling 5.5 billion yuan (US$870mil) for manipulating the stock market, the biggest ever punishment for such an infringement.
Xiamen Beibadao Group was charged with manipulating the share prices of three Shenzhen-listed companies – Jiangsu Zhangjiagang Rural Commercial Bank Co, Jiangsu Jiangyin Rural Commercial Bank Co and Guangdong Hoshion Aluminium Co, China’s securities regulator said in a briefing.
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